CoinList launches $100K SNARK Challenge with Coda and Dekrypt

CoinList, a platform for running compliant token sales, today announced another step forward in its mission to help top Web3 companies raise capital and grow their communities.

Over the next three months, CoinList will be co-hosting an open challenge to speed up zk-SNARK provers with Coda and Dekrypt Capital.

Zero-knowledge proofs are a cryptographic method that allows one party to prove a state or a set of information without the counterparty having to reveal that information.

zk-SNARKs are a form of zero-knowledge proof that can keep transactions private on a crypto network, prevent block sizes from bloating, and more.

Why zk-SNARKs?

Over the past several years, zero-knowledge proof systems have been developing at a fast pace, both in terms of research and large-scale deployments.

However, current implementations are far from optimal in terms of performance. zk-SNARKs are a form of zero-knowledge proofs which can prove possession of certain information without either revealing the underlying information or any interaction between the prover and verifier.

In the context of cryptocurrency, this technology can help solve two of the industry’s largest and most pressing challenges: scaling blockchains and realizing privacy for on-chain transactions.

The Challenge: $100K in Prizes

The challenge will be segmented into two events that span 3 months with $100K in prizes to be awarded. There will be specific challenges aimed at advanced cryptographers and those with experience in high-performance computing.

The initial event runs from May 20thto June 3rd: It has $5k in prizes and includes 3 challenges focused on zk-SNARKs basics.

The main event runs from June 3rd to July 15th: This event has $95k in prizes and includes multiple challenges focused on speeding up the Groth16 Snark Prover.

Those interested can now sign up to stay up to date on everything related to The SNARK Challenge.